[ad_1]
KUALA LUMPUR (March 17): The Global Norwegian Government Pension Fund, the world’s largest sovereign investment fund with a market value of around NOK11.08 trillion (RM5.48 trillion) had invested in 145 companies listed in Malaysia, including Genting Malaysia Bhd, MR DIY Group (M) Bhd and Top Glove Corp Bhd as of December 31, 2020, according to the latest updates from the Norwegian central bank’s asset management unit.
Norges Bank Investment Management is the asset management unit of the Norwegian central bank Norges Bank, which is tasked with managing the Government Pension Fund Global, often referred to as the Norwegian oil fund, Norges Bank Investment Management said on its website.
On Genting Malaysia, Norges Bank Investment Management said that the Government Pension Fund Global held a 0.7% stake worth $ 26.35 million as of December 31, 2020.
The Government Pension Fund Global also has a 0.26% stake in MR DIY worth $ 12.83 million and a 0.89% stake in Top Glove worth $ 108.68 million, according to Norges Bank Investment Management.
The Government Pension Fund Global’s equity portfolio listed in Malaysia includes a 0.3% stake in AirAsia X Bhd, a 3.28% stake in Bumi Armada Bhd and a 2.59% stake in Bursa Malaysia Bhd.
“Although the income from oil and gas production is transferred to the fund, these deposits represent less than half the value of the fund. Most of it has been obtained through investment in stocks, fixed income and real estate.” The fund is now one of the largest funds in the world, holding almost 1.5% of all shares in the world’s listed companies. This means that we have interests in around 9,000 companies around the world, which entitles us to a small part of their profits each year.
“In addition, the fund owns hundreds of buildings in some of the world’s leading cities, which generate rental income for us. The fund also receives a steady stream of income from loans to countries and companies. By distributing our investments widely, we reduce risk. the fund losing money, ”said Norges Bank Investment Management.
Norges Bank Investment Management said the fund’s equity investments are spread across many different countries, sectors and companies to capture global value creation and diversify risk in the best possible way.
The fund’s investments are limited to companies listed on regulated exchanges and companies where the board has expressed its intention to apply for a listing, according to Norges Bank Investment Management.
“The fund cannot own more than 10% of the shares of a publicly traded company. The FTSE Global All Cap Stock Index is the starting point for the fund’s equity investments and is the benchmark applied by [Norway’s] Ministry of Finance, ”said Norges Bank Investment Management.
According to Norges Bank Investment Management, the Government Pension Fund Global had invested in 146 companies listed in Malaysia in 2019 compared to 152 in 2018.
The 2019 list included AirAsia Group Bhd, Bumi Armada, Bursa Malaysia, Malayan Banking Bhd, Petronas Gas Bhd and Top Glove, Norges Bank Investment Management said.
Read also:
The world’s largest sovereign wealth fund increases investment in Malaysian-listed stocks
[ad_2]
